How the New State Insurance Company Legislation Impacts Workers Compensation in Illinois  

by | Jul 2, 2018 | Jobs Featured

Worker’s Compensation has been a contentious legal issue in Illinois for a long time. The House of Representative recently passed a bill to create an insurance agency that would be monitored by the state. The intention of the law is to drive down rising workers’ compensation insurance premiums.

Recent Law Creates a State Monitored Insurance Company

The bill would sanction the Illinois Employers Mutual Insurance Company. According to the Associated Press, the startup funding would be pulled out of the operating fund of the Illinois Workers’ Compensation Commission. The brainchild of Glenview Democratic Rep. Laura Fine, this insurance company would compete with private insurers who reputedly haven’t lowered premiums in response to cost-saving measures made in 2011.

Illinois has a highly competitive market with 323 insurers vying for business in the state, so opponents of the measure say that it’s unnecessary. Democrats disagree, saying that the industry has to see drastic decreases in premiums to be affordable to business owners.

Desperately Needed Reform a Relief for Healthcare Workers

Doctors and other medical workers agree that a change is needed. There is speculation as to whether or not the new state insurance company would speed up payment to providers. Archaic processing and regulatory uncertainty have postponed payment for workers’ compensation cases. Some medical providers predict a crisis if the current system is not modified.

 

Whether or not further measures will be made to address the delayed payment issue is uncertain. However, many are excited to see the state finally making changes to fend off skyrocketing premiums that make employers reluctant to process workers’ compensation claims. This, of course, impacts the immediate need for treatment and rehabilitation for those badly injured at work.

Worker’s Compensation Victims Should Seek Legal Advice

Because the political atmosphere around this subject is so charged, experts recommend that those seeking reimbursement for worker’s compensation claims seek legal advice. The Ankin Law firm offers this insight, “In my opinion, every injured worker requires legal assistance for a work-related injury, especially because the new workers’ compensation laws are difficult for an injured employee to navigate on their own. Remember, a lawyer is paid only when they recover money which an injured worker cannot receive on their own. There is no risk in seeking assistance for work-related injuries so the majority of injured employees hire an attorney.”

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